Skinkind (UK) Limited

Other

Funds Raised

£10,875.00

Final AER

15.00%

Loan term

24 MONTHS

Auction Closed

2013-03-07

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Skinkind (UK) Limited Company Number: 06844867
Business Type: Other Years Trading: 2-3 years
Business Location: WEST YORKSHIRE

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from Steven Brookes

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

SkinKind (UK) Ltd is a family owned firm that for the last 23 years has successfully developed and marketed an industrial range of natural hand cleaning products to companies that historically employed processes or products that could potentially cause their workforce to suffer from many types of debilitating skin conditions, resulting in lost time and productivity. See how our product has made a big difference to a ballet dancer’s life and career.

Our customers include Silentnight Beds, Hallmark Cards, Kone Escalators, Rolls Royce, BASF, Akzo Nobel, Crown Paints, Biffa, Yorkshire Post and Arriva.

Developing a new Skin Care Range

The change in the industrial market brought about by the worldwide recession was the catalyst for SkinKind to develop a range of Natural skin care products to treat the most serious of skin complaints; Psoriasis, Eczema and Dermatitis.

We realised very quickly that one of our products was able to deal very successfully with most types of psoriasis, making it potentially a natural alternative in a multi-million pound market in the UK alone.

Read more

Loan Offers

What is the loan for?

Our goal over the next 12 months is to increase our prescribing Doctors practices from 65 to 150 and to increase the number of individual Doctors within each practice prescribing SK products, to achieve 40 patients-per-practice using our products.

SkinKind products are available through the NHS at the moment through prescription, but we need funds to raise awareness of the SkinKind range further among doctors. This will be achieved with the purchase and distribution of samples (15 - 20 a week) and seminars to educate doctors and their patients. We’re recruiting a telemarketer and a salesperson to coordinate the seminars and follow up on invitations and samples. We have also provisioned for advertising within the health sector, and in particular GPs and Practice Managers. Furthermore, we are allowing a small budget towards marketing costs though purchasing data, printing, exhibition stands and postage.

Why consider investing?

Twenty per cent of the UK’s population suffers from the likes of psoriasis, acne, eczema and dermatitis – that’s a huge target market and the NHS is the best way to reach that. For doctors to prescribe the treatment, they need to see the benefits. By prescribing Skinkind...

  • Patients will come off steroids; excellent for a short and long term skin patient health care.
  • Patients will use a product with no long term negative side effects
  • Patients have a high probability of seeing effective improvements in their skin, possibly for the very first time.
  • The Doctors will benefit because

    The cost of prescribing SkinKind is considerably lower (often £47.64 lower) than the common topical steroid normally prescribed for psoriasis. This means that the average Doctors practice will save around £25k per annum. This saving can then be used to treat the ever increasing number of patients who need more costly medicines and drugs.

    Alternatively, if we look at the potential savings across the UK, could save the NHS around £250 million per annum.

DateAmountCapitalInterestReceived
08/11/2012£678.43£542.50£135.94 (207 days late)
08/12/2012£678.43£549.28£129.16 (200 days late)
08/01/2013£678.43£556.14£122.29 (202 days late)
08/02/2013£678.43£563.10£115.34 (202 days late)
08/03/2013£678.43£570.13£108.30 (206 days late)
08/04/2013£678.43£577.26£101.172324 days overdue
08/05/2013£678.43£584.48£93.962294 days overdue
08/06/2013£678.43£591.78£86.652263 days overdue
08/07/2013£678.43£599.18£79.252233 days overdue
08/08/2013£678.43£606.67£71.762202 days overdue
08/09/2013£678.43£614.25£64.182171 days overdue
08/10/2013£678.43£621.93£56.502141 days overdue
08/11/2013£678.43£629.71£48.732110 days overdue
08/12/2013£678.43£637.58£40.862080 days overdue
08/01/2014£678.43£645.55£32.892049 days overdue
08/02/2014£678.43£653.62£24.822018 days overdue
08/04/2014£678.43£661.79£16.651959 days overdue
08/05/2014£678.43£670.06£8.381929 days overdue
Total:£10,875.00£1,336.83